Theyâ€™re at it again. The Center for Responsible Lending, the corrupt â€œcharityâ€ that consistently and fraudulently attempts to ban payday loans to fill their own coffers with competing products, has released the results of another â€œStudyâ€. This time, in an attempt to remove consumer choice from Ohio and Arizona, they trot out a study from the University of Michigan. Out of one side of their mouth, they proclaim, â€œThe survey by University of Michigan law professor Michael S. Barr found that respondents using payday loans were more likely to file for bankruptcy, be evicted, or face utility shut-offs than respondents who had not taken a payday loan.â€ Ah, but just a few lines down, they bury the lead: â€œWhile the Michigan survey does not establish a causal relationshipâ€¦â€! Well, this is typical of the CRLâ€™s thuggish tactics.
They parade around ridiculous studies that have flawed data collection techniques, draw false conclusions from this flawed data, then try to snooker unsuspecting readers that this smoke-and-mirrors job supports their assertion. Just to reiterate, the CRL has its own loan product. They want to drive payday lenders out of business so they can have a monopoly. They are entirely funded by government grants and George Soros â€“ the man who wants to raise taxes on everyone but himself, while he secrets his wealth off-shore.
The facts are, and always have been, on the side of payday lenders. They are sources of short-term credit that 93% of consumers use responsibly. If they could get a free loan from a friend or relative, they would. They are smart enough not to bounce checks, which cost more than a payday loan. Donâ€™t buy the rotten fruit that the CRL is trying to pass off as freshly harvested. Itâ€™s rotten to the core, just like they are.